Nelson Corporation has the following information available for May of the current year:
Beginning Work in Process Inventory
(25% complete as to conversion) .......10,000 units
Started...................120,000 units
Ending Work in Process Inventory
(30% complete as to conversion) ......30,000 units
Beginning Work in Process Inventory Costs:
Material.................$2,100
Conversion ...........$2,100
Current Period Costs
Material................$33,000
Conversion............$33,000
All material is added at the start of production and all products completed are transferred out. Refer to Nelson Corporation. Prepare an equivalent units schedule using the method.
(a) FIFO
(b) Weighted average